TORONTO, ONTARIO--(Marketwire - Sept. 17, 2007) - RioCan Real Estate Investment Trust ("RioCan")(TSX:REI.UN) today announced a distribution of 11 cents per unit for the month of September. The distribution will be payable on October 5, 2007 to unitholders of record as at September 30, 2007.
RioCan today also announced that it will increase its monthly distribution to unitholders to 11.25 cents per unit commencing with the October 2007 distribution, payable in November 2007. This increase of 3 cents per unit on an annualized basis will increase RioCan's annualized distribution to $1.35 per unit.
Edward Sonshine, Q.C. President and Chief Executive Officer of RioCan, said, "RioCan's continued strength, reliability and growth of our cash flow gives us the confidence to increase our monthly distribution. We are proud to have increased our distributions each and every year since RioCan's inception almost 14 years ago."
RioCan is Canada's largest real estate investment trust with a total market capitalization of approximately $7.8 billion. It owns and manages Canada's largest portfolio of shopping centres with ownership interests in a portfolio of 207 retail properties, including 10 under development, containing an aggregate of over 53 million square feet. For further information, please refer to RioCan's website at www.riocan.com.
FOR FURTHER INFORMATION PLEASE CONTACT:
RioCan Real Estate Investment Trust
Edward Sonshine, Q.C.
President & CEO